Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.008%

Price spread now: ApeX Omni against Vest−0.146%7-day average +0.005% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Vest Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.124%+$12 on $10k

Price spread, last 3 days (all we have)+0.077%+$8 · spread now −0.146%, 7d avg +0.005%

Together, before fees+0.201%+ Points / potential airdropVest: Active · farm board+$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.152% cheaper against Vest than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	93.362	0.0100	pay 0.0013% / 1h	44m 37s	—	$454K	5x
Short	ApeX Omni HYPEUSDT	93.225	0.0100	get 0.0013% / 1h	44m 37s	$412K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee VestbpFee ApeX OmnibpOrdersPrice spread, now −0.146%Rate

Funding earned: $0
Price spread: −0.146% → +0.005%: −$15.18
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$27.18
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; ApeX Omni: live order book, 4 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Vest no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 4 min ago	4.41 bp	11.1 bp −$11	15.6 bp −$156	doesn't fit	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps HYPEUSD	−0.0341%	1h	93.173	−0.202%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.222	−0.150%	$1.2M	$4.0M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0104%	1h	93.251	−0.119%	$197K	$230K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.359	−0.003%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0030%	1h	93.150	−0.227%	$699K	$924K	10x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.317	−0.048%	$90K	$362K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.255	−0.115%	$127K	$32K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.433	+0.076%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.344	−0.019%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.315	−0.050%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex HYPEUSDT	+0.0008%	1h	93.354	−0.008%	$57K	$1.2M	50x	as long as short
Aster HYPEUSDT	+0.0014%	4h	93.267	−0.102%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0016%	1h	93.160	−0.216%	$16.3M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	93.223	−0.149%	$323.8M	$287.0M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.278	−0.090%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0039%	4h	93.224	−0.147%	$171K	$521K	20x	as long as short
Gate HYPE_USDT	+0.0070%	4h	93.243	−0.127%	$43.7M	$57.7M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.249	−0.121%	$18.5M	$58.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.236	−0.135%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.197	−0.176%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.250	−0.120%	$40K	$1.6M	10x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.240	−0.130%	$383.2M	$892.2M	75x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.353	−0.009%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.224	−0.147%	$2.03B	$672.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.267	−0.102%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.244	−0.126%	$113.9M	$314.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.884	−0.512%	$203K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.240	−0.130%	$90.3M	$81.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.233	−0.138%	$47.2M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.270	−0.098%	$226.0M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.244	−0.126%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.234	−0.137%	$7.8M	$11.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.236	−0.134%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.215	−0.157%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	93.225	−0.146%	$412K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	93.204	−0.169%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	93.362	long leg	—	$454K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.380	+0.020%	$494K	$2.6M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.301	−0.065%	$112K	$579K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.399	+0.040%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.191	−0.183%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.211	−0.161%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.231	−0.140%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.235	−0.135%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.170	−0.206%	$5.1M	$29.6M	30x	as long as short
Bluefin HYPE-PERP	+0.0164%	1h	93.189	−0.185%	$76K	$168K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.390	+0.030%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.300	−0.066%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.334	−0.030%	$78K	$158K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0265%	1h	93.291	−0.076%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0280%	4h	93.358	−0.004%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.316	−0.049%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.188	−0.186%	$16.9M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.326	−0.038%	$1.5M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.322	−0.042%	$20.8M	$28.6M	50x	as long as short